Ft. Lauderdale Real Estate News

2024 Year End Real Estate Statistics

Median Home Price in Fort Lauderdale Rises to $657,000

The Median Sale Price for a Single Family Home in Fort Lauderdale actually rose 2.3% to $657,000 through a sluggish real estate market which continues to consolidate after the steep increases we have seen in home values over the last few years.

The South Florida Metro reporting area comprised of Miami-Dade, Broward and Palm Beach Counties reported a 7.1% increase in home values, the Median Price for a Single Family House going up to $635,000 according to the 2024 Year End statistics released by Florida Realtors, which are generated by compiling numbers reported through the MLS of local realtor associations throughout the Sunshine State. Only the Sebastian-Vero Beach Metro in Indian River County reported a higher percentage gain, the Median Price there rising 8.4% to $420,000.

Overall, the Median Sale Price in Florida rose...

Continue reading and see pdfs of the Official Statistical Reports from the Florida Association of Realtors, click link below.

Official 2023 Year End Statistics Reported by Florida Realtors

Fort Lauderdale Home Prices Show Strength and Resilience

After shooting up 14.3% in 2022, following the astounding increase of 36.2% in 2021 and 18.9% in 2020 the Real Estate Market in Fort Lauderdale finally took its long-awaited breather in 2023, according to Year End statistics released by Florida Realtors, generated through compiling numbers reported through the MLS of local realtor associations throughout the Sunshine State.

Frankly we expected the market to cool off through '22, but they remained strong.

In 2023 the Median Sale Price of a Single Family Home in Broward County increased 5.5%, to $580,000 from $550,000 in 2022.

In the Condominium and Townhome market, the Median Sale Price went up 9.2% in Broward County, from $250,000 in 2022 to $273,000 in 2023.

Though not eye-popping like we have become used to, those are still pretty good numbers, showing resilience and strength given the tight market conditions, a double-digit decrease in Closed Sales and abnormally high mortgage rates.

Local Real Estate is currently working its way through a period of...

Continue reading and see pdfs of the Official Statistical Reports from the Florida Association of Realtors, click link below.

Ft Lauderdale Real Estate News 5/15/2024

The Nostradamus of Property Values?

Paul McCartney Predicts Latest Real Estate Trend in 1964

The United States Census Bureau has released Net Domestic Migration statistics tracking who is moving from where to where in the country, from state to state, from county to county. It's basically that old Beatles song: people are following the sun.

In addition, they are also following the taxes. To be more precise, they are fleeing high taxes and not surprisingly relocating to cities and states with lower taxes.

According to some statistics Florida is still the fastest growing state in the nation. Other stats indicate it might be...

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Official 2022 Year End Statistics Reported by Florida Realtors

Fort Lauderdale Home Prices Show Appreciation of 14.3%

You Call That a "Down" Year?

Following a staggering rise of 36.2% in 2021, and 18.9% in 2020, the Real Estate Market in Fort Lauderdale was supposed to take a bit of a breather. And we suppose you could say it did. According to 2022 Year End statistics released by Florida Realtors, data generated by compiling sales reported through the MLS of local realtor associations throughout the Sunshine State, the Average Sale Price for a Single Family Home in the city of Fort Lauderdale only rose 14.3%.

Yes. ONLY 14.3%.

Which raises two interesting questions:

The first – what kind of Real Estate Market are you in when 14.3% appreciation is considered a "down" year?

The second – why is anybody investing in Real Estate anywhere else?

With mortgage rates high and inventory tight, following two years of explosive growth, you would expect Real Estate to cool off, consolidate, as people became accustomed to the new pricing reality.

Apparently, in Fort Lauderdale, that translates to 14.3%.

An even more telling stat, perhaps, is the...

Continue reading and see pdfs of the Official Statistical Reports from the Florida Association of Realtors, click link below.

Ft Lauderdale Real Estate News 5/11/2023

Real Estate "Experts" Finally Catch Up To What I've Been Telling People For Years

Here's the view $2 Million buys you
in New York City

Tough choice. Nobody who lives here
ever dreams of being THERE

It's always nice when the Real Estate "Experts" finally catch up with me. The latest statistics from Realtor.com prove what I've been telling people for years - that the dramatic rise in South Florida Home Prices has been caused by a tremendous increase in DEMAND.

This is borne out by their analysis of...

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Before You List Your House For Sale

Ten Pro Tips to Increase My Home Value

Thinking about Listing your home for sale? Before you do, here are some helpful tips you might consider to maximize your home's value.

We're talking mainly about Single Family Homes here, but many of these tips will still apply to Condos and Townhouses.

Much depends on the architectural design of your home. Some of these tips may simply not be possible, given the size and layout of your property. In addition, we hesitate to suggest knocking down walls, adding square footage, or anything else requiring construction, which could be expensive, and may not increase your value sufficiently.

Those are business decisions which should be considered on a case by case basis.

1. The Final Frontier

Would you like to buy a dark, cramped little house? Neither would anybody else. A lot of ...

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Ft Lauderdale Real Estate News 1/31/2023

Highest Increase in Home Values in U.S.

Florida ranked Number One in home price appreciation last year, according to recent statistics released by real estate website Zillow showing the rise in property values from January to January.

According to their analysis, the average price for a home in Florida rose $56,000 through 2022, from $345,305 in January of last year to $405,939 in 2023.

That represents an increase of 17.27%, meaning home values...

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Florida Realtors 2021 Year-End Statistics

Fort Lauderdale Homes Up A Whopping 36%

The Average Sales Price for a Single Family Home in Fort Lauderdale rose a staggering 36.2% in 2021. In addition, the Median discount from Listing Price was Zero, meaning the vast majority of homes either sold for full asking or more than the Listed Price.

These startling figures are according to the latest year-end statistics released by the Florida Association of Realtors. Though seemingly incredible on face value these are accurate numbers. Statistics released by the Florida Realtors are generated by compiling sales reported through the MLS of local realtor associations across...

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Florida Realtors Year-End Statistics

Ft. Lauderdale Home Values Rise 19% in 2020

Home values in Fort Lauderdale rose 19% in 2020.

To be precise: the Median Price of a Single Family Home in Fort Lauderdale, Florida increased to $500,000, which represents a rise of 19.0% from the previous year, according to statistics compiled and released by the Florida Association of Realtors.

What makes statistics reported by the Florida Realtors particularly valid versus other market reports...

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12 Things You Must Know

How to Buy Foreclosures

A lot of attention, in many cases too much attention, in today's market is focused upon Foreclosures, also known as REOs (Real Estate Owned). Many people believe in the old adage: "One man's trash is another man's treasure." There are, however, several other old sayings you would be wise to live by. "When something sounds too good to be true, it usually is." The other is: "Buyer beware."

True, you can find some good deals in REOs, and they might make more sense for certain investors, however we would not limit yourself to shopping Foreclosures. Buyers should not overlook regular old-fashioned sales. If a homeowner needs to sell his house they cannot List it appreciably higher than the Foreclosure or Short Sale next door, on his block, in his neighborhood.

To compete successfully in the Foreclosure market you must understand the way things work, follow methods which are at this point established. Here's a few things you should know, be prepared for:

1.) Remember Foreclosures by definition represent a home someone has walked away from. This is not an overnight process. It took months, probably over a year to get these people out. They occupied the premises for months and months not paying anything, waiting for the axe to fall. Very few care about or can afford to maintain these properties and many, in anger and resentment, pulled appliances and fixtures, perhaps even damaged the home before they left. After that the property might've sat vacant for months before the Bank managed to list it for sale. If you are not in construction, if you're not much of a Do-It-Yourselfer, if you don't have a reliable and inexpensive source for remodeling...

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Some Charts you might find interesting

Freddie Mac Home Price Index

Blue Line is latest S&P Case-Shiller Home Price Index for South Florida Metro Reporting Area
(Miami-Dade, Broward and Palm Beach Counties)
Dotted Line is Home Price Index for the U.S.
Shaded Areas on Chart represent U.S. Recessions

Total Tax Burden by State

Run Cursor over map to see where each State ranks.

Real Estate Taxes

Run Cursor over map to see where each State ranks.

Net Domestic Migration

Run Cursor over map to see where each State ranks.